Download 2025/2026 ILLINOIS LEASING AGENT EXAM/ (VERSION A AND B) AND PRACTICE|340Qs&As|A+ GRADE and more Exams Real Estate Management in PDF only on Docsity!
2025/2026 ILLINOIS LEASING AGENT EXAM/ 2
LATEST VERSIONS (VERSION A AND B) AND
PRACTICE QUESTIONS|ALL 340 + QS &AS/LATEST
UPDATE 2025/
|ALREADY GRADED A+
VERSION A
A licensee seeking an apartment encountered discrimination based on his age. Which one of the following statements is correct regarding the real estate recovery fund? a- the licensee may not file a complaint with IDFPR because of the real estate recovery fund is for members of the general public and not licensees. b- the licensee may not file a complaint because there is no witness to the discrimination when the licensee claims that discrimination took place c-the licensee may file a complaint and a hearing will be conducted by IDFPR to determine if any discrimination took place d- the licensee may file a complaint with IDFPR because the discrimination took place five years ago and the case was opened within the required time period. - ....ANS:-
->>>. .......................................... c A licensee owns 1% of a residential property that is being advertised for rent. What is the maximum amount of ownership that a license you can have any property before disclosure is required? - ....ANS:->>>....There is no minimum or maximum percentage of ownership that is required.
A student leasing agent was hired on January 15. The sponsoring dealer did not complete the 120 day student permit until January 30. When does the 120 day period begin? - ....ANS:->>>....The permit begins the day of the sponsoring dealer completes the 120 day permit online and IDFPR. A sponsor card can be issued by a sponsoring dealer to a student after they pass the state exam. Which license category does the sponsor card apply to? - ....ANS:->>>....Leasing agents, dealers, and managing dealers. Which of the following is not a violation of the license act? a-failure to maintain good record keeping. b-residential leasing agent decides to not renew their lease c-call mingling money/property of business or personal funds. d-failure to comply with requests from IDFPR within 30 days. - ....ANS:-
......................................................... b A managing dealer must notify IDFPR in all of the following circumstances except; a-a branch office was closed b-a new branch office was opened c-a new leasing agents 45 day permit is due to expire d-corporate office for the company has relocated - ....ANS:->>>............... c A listing agent was given a $100 check from another licensee to
A person was found guilty of unlicensed practice by IDFPR. The person has been fined $25,000 for unlicensed practice. How long does the licensee have to pay that amount? - ....ANS:->>>....60 days A leasing agent is changing employment and has provided notice to the current sponsoring dealer. When the current dealer returns to the license to the licensee, what is the status of that license? - ....ANS:->>>............... inoperative Discriminatory advertising shows: - ....ANS:->>>. ......................................... A preference for families only, Ads featuring pictures of only one race, a preference based on race, color, religion, sex, national origin, disability or familial status. If a leasing agent advertises apartment for rent "For families only", it is a violation of which act? - ....ANS:->>>....Fair housing amendment act of 1988 The fair housing amendment act of 1988 reference people with disabilities which includes: - ....ANS:->>>....Mental or Physical impairments A licensee are selling their own home must include the following in their advertisement: - ....ANS:->>>....Agent owned or dealer owned
The use of a religious phrase or symbol in an advertisement is: - ....ANS:-
....Most likely discriminatory An owner of a single-family home restricts the rental of rooms in her home to women only. The owner has: - ....ANS:->>>....Not violated any civil rights acts Phrases like "nice area for children" or "perfect for a large family" are: - ....ANS:->>>....Not acceptable under the provisions of fair housing laws The statement "we have a no pet rule and that includes your guide dog" is discriminatory based on: - ....ANS:->>>....Fair housing amendment act of 1988 The advertising headline that reads: "beautiful two bedroom unit with wooded view" is: - ....ANS:->>>....Not in violation of federal fair housing laws It is best to advertise: - ....ANS:->>>....The property and its features Commingling - ....ANS:->>>....Illegally mixing deposits or monies, collected from a client, with one's personal or business account. Taking money out too soon or putting it into escrow too late. compensation - ....ANS:->>>....something of value ($$$)
firm? - ....ANS:->>>. ............................................................................. true True or False; Leasing agents must be 21 years of age and only engage in the sale of residential property? - ....ANS:->>>............... false Disciplinary actions for leasing agents: - ....ANS:->>>....Shall conform with disciplainary actions for licensed real estate dealers An applicant shall not practice as a student leasing in a 24 month period. Which of the following is true about sponsor cards?
agent. - ....ANSWER....more than once
a-sponsor cards are only issued for residential leasing agents b-all sponsor cards are issued by IDFPR c- It is a temporary 45 day permit issued by the sponsoring dealer d- it is a 180day student permit - ....ANS:->>>. .................................... c The real estate recovery fund is maintained by IDFPR, who is eligible to collect damages from this account? - ....ANS:->>>....Any person who suffered a loss based on a licensees conduct. How many times can a person take the state licensing exam before they have to repeat the course again? - ....ANS:->>>....4 times the IDFPR requires escrow records to be maintained by the sponsoring dealer: - ....ANS:->>>....5 years When must escrow money be deposited by the sponsoring dealer? - ....ANS:-
....No later than the next business day following the transaction. Where is the original license for a leasing agent kept? - ....ANS:->>>....In the sponsoring dealers principal office Mary is sponsoring dealer, she was found guilty of a license act violation. Her
and terms with potential and current clients. Puffing - ....ANS:->>>....exaggeration of a property's benefits. (best view, best location) not illegal until it leads to misrepresentation Real Estate Recovery Fund - ....ANS:->>>....A fund established to cover claims of aggrieved parties who have suffered monetary damage through the actions of a real estate licensee. 50k per occurance, up to 300k. Reciprocity - ....ANS:->>>....mutual exchange Sponsor card - ....ANS:->>>....In IL, a card that certifies a new licensee's relationship with a sponsoring dealer and serves as a temporary permit to practice until a permanent pocket card is received. Civil rights act of 1866 - ....ANS:->>>....a law that prohibits discrimination based on race in the purchase or rental of property. The protected class was racial discrimination Fair Housing Act of 1968 - ....ANS:->>> .................................... banned discrimination in the rental or sale of housing Realtors Can Really Now Sell Houses Fast meaning - ....ANS:->>>....Race, Color, Religion, National origin, Sex, Handicap, Familial status. Equal housing opportunity poster was introduced in 1972 as an amendment
to which act: - ....ANS:->>>....Fair housing act of 1968 The civil rights act of 1866 prohibited discrimination based on: - ....ANS:-
........................................................... race Under which act must a landlord allowed tenant to make reasonable modifications to an apartment? - ....ANS:->>>....Fair housing amendment act of 1988 The fair housing amendment act of 1988 includes individuals with: - ....ANS:->>>....Mental illness, AIDS/HIV, and alcoholism with rehab The protected class of individuals with disabilities includes - ....ANS:- ....Mental or physical impairments Familial status refers to: - ....ANS:->>>....An adult with persons under the age of 18, a pregnant person, one who has custody or is in the process of custody of a person under 18 Housing and community development after 1974 prohibited discrimination based on - ....ANS:->>>. ......................................................................................... sex A lending institution requiring different rates and terms for minorities as an example of -
the property which the following is an example of blockbusting a-showing apartments only in certain buildings
b- limiting the number of children that can occupy unit
c- limiting the number of occupants per unit
d- informing prospects of ethnic make up of the community -
....ANS:->>>. ................................................ d A property is located near the airport and some tenants have complained about the noise. In order to minimize complaints, the landlord should: - ....ANS:->>>....discolse only the factual information about the property A residential apartment complex has a no pet policy. If a tenant utilizes a service animal for disability related issue the landlord may: - ....ANS:->>>. ........................................................................................................require documentation if it's their policy The Illinois human rights act included each protection for individuals over which age - ....ANS:->>> ................................................................................ 40 Which of the following is a federal protected class? - ....ANS:->>>....Familial status A fire completely destroyed an apartment building. The leases for the current
residents are: - ....ANS:->>>............... Canceled/terminated Which of the following is not a federal protective class?
- ....ANS:->>>. ............... age A prospective tenant suspects age discrimination because of only being 18 years of age. Which of the following statements is correct? a-it's a protected class under federal law b-age disrimination act of 1975 c-age is protected under state law for under age of 40 d-age is not a protected class under federal law - ....ANS:->>>............... d An owner of a six unit apartment building had a fair housing complaint filed against him because he would not lease to a 20 year old pregnant female. If the owner is found guilty of discrimination, which of the following acts with the owner be in violation of? - ....ANS:->>>....Fair housing amendment act of 1988 A person with a disability requires to have their service animal accompany them in the pool area. Does the housing provider need to allow this? - ....ANS:->>>....Yes, service animals must have access to all areas of the property A leasing agent refers all minority renters to a property located on the other
....Five or more units What should not be asked on rental applications? - ....ANS:->>>....- race
- color
- number of children
Residential real property disclosure act applies to how many units - ....ANS:-
....1-4 units ............... Canceled/terminated Which of the following is not a federal protective class? - ....ANS:->>>. ............... age A prospective tenant suspects age discrimination because of only being 18 years of age. Which of the following statements is correct? a-it's a protected class under federal law b-age disrimination act of 1975 c-age is protected under state law for under age of 40 d-age is not a protected class under federal law - ....ANS:->>>............... d An owner of a six unit apartment building had a fair housing complaint filed against him because he would not lease to a 20 year old pregnant female. If the owner is found guilty of discrimination, which of the following acts with the owner be in violation of? - ....ANS:->>>....Fair housing amendment act of 1988 A person with a disability requires to have their service animal accompany them in the pool area. Does the housing provider need to allow this? - ....ANS:->>>....Yes, service animals must have access to all areas of the property A leasing agent refers all minority renters to a property located on the other >>>....Five or more units What should not be asked on rental applications? - ....ANS:->>>....- race ## - color ## - number of children Residential real property disclosure act applies to how many units - ....ANS:- >>>....1-4 units Radon and meth were added to which of the following;
- ....ANS:->>>....residential real property disclousure act
An occurrence on a property such as a murder or suicide is an example of - ....ANS:->>>. ................................................................................. Stigmatized property The EPA program requiring the use of certified contractors for removal of lead-based paint went into affect what year - ....ANS:->>>. 2010 Security deposit - ....ANS:->>>....Not rent. Advanced sum to ensure against damages Latent Defect - ....ANS:->>>....problem not discoverable by normal prudent inspection (mold, esbestos)
Material defect - ....ANS:->>>....something that would objectively impact a buyer's or seller's decision. (roof leak, somethng that effects the property) What is a fiduciary - ....ANS:->>>....One who holds a position of trust What are duties and responsibilities of a fiduciary - ....ANS:->>>....Care, obedience, loyalty, accountability, and notice (COLAN) Dual agency occurs when a dealer; - ....ANS:->>>....Represents both the buyer and seller in the same transaction Commission rates for properties listed for sale are set by : - ....ANS:-
....Mutual agreement between the dealer and the seller Agency can be terminated by - ....ANS:->>>....Expiration of the term of the agreement, destruction of the property, fulfillment of the agreement Xpress, implied, bilateral, and unilateral are all types of
- ....ANS:->>>. .............. contracts
Fraud is defined as - ....ANS:->>>....Intentional deceit or lying The statute of frauds requires - ....ANS:->>>. ..................................... certain contracts to be in writing
Tenant rents a single-family home and the lease began on February 1st and month to month thereafter. This is referred to as: - ....ANS:->>>....Periodic tenancy When an apartment building is sold, existing leases are
- ....ANS:->>>....Remain in full force and effect
In a lease agreement the lessor is the: - ....ANS:->>>....Owner of the property Residential lease is a contract between: - ....ANS:->>>....lessor and lessee Price fixing is an example of a violation of : - ....ANS:->>>....Anti-trust laws Which is not an essential element to a valid contract - ....ANS:->>>....Agreement must be in writing When do escrow funds need to be deposited? - ....ANS:->>>....the next business day after acceptance One of the essential elements to a contract is consideration. Consideration means: -
....ANS:->>>....Giving of something of value escrow records and employment agreements must be maintained for how many years? - ....ANS:->>>................................................................................. 5 years If a property consisted of over 25 units, a tenant is entitled to interest on the security deposit if the deposit was held for more than how many months? - ....ANS:->>>....6 months Which of the following does not require disclosure? a- radon b-felons living onsite c-lead based paint d-termites - ....ANS:->>> ........................ b What is the date of the civil rights act - ....ANS:->>>.................... 1866 Is it permissible to refuse to rent to a person with poor credit history? - ....ANS:->>>. ........................................................ yes Red lining by leasing agents is acceptable? - ....ANS:->>>............... no When could've tenant claimed constructive eviction? - ....ANS:->>>....Uninhabitable living conditions
